Affinity Wealth Management LLC invests $217,000 in Simon Property Group, Inc. (NYSE:SPG)

Financial Advisors


Affinity Wealth Management LLC acquired a new position in Simon Property Group, Inc. (NYSE: SPG – Get Rating) during the fourth quarter, according to a recent disclosure to the SEC. The institutional investor acquired 1,849 shares of the real estate investment trust, worth approximately $217,000.

Several other hedge funds have also changed their stakes in SPG. New England Capital Financial Advisors LLC purchased approximately $25,000 worth of new shares in Simon Property Group during the fourth quarter. Muzinich & Co. Inc. purchased approximately $25,000 worth of new shares in Simon Property Group during the fourth quarter. US Asset Management LLC purchased new shares in Simon Property Group for a value of approximately $26,000 during the fourth quarter. TCI Wealth Advisors Inc. increased its position in Simon Property Group stock by 259.1% during the fourth quarter. TCI Wealth Advisors purchased an additional 171 shares last quarter and now owns 237 real estate investment trust shares worth $28,000. Finally, Trustcore Financial Services LLC purchased new shares in Simon Property Group for his $31,000 equivalent in the third quarter. 83.89% of the shares are owned by hedge funds and other institutional investors.

Insider activity

In other news from Simon Property Group, director Karen N. Horn acquired 551 shares in the company in a transaction on Friday, March 31. Shares were bought at an average price of $109.33 per share for him, giving him a total trading value of $60,240.83. After the close of the acquisition, the director now owns 34,079 shares of the company’s stock, valued him at $3,725,857.07. The transaction was disclosed in filings with the SEC and can be accessed on the SEC’s website. Insiders own 8.58% of the company’s shares.

Analyst Rating Change

Several research firms have recently conducted research on SPG. Trust Financial has raised its price target on Simon Property Group to $130.00 from $125.00 and put the company’s rating on hold in a report on Tuesday, February 21. StockNews.com downgraded Simon Property Group’s rating from ‘buy’ to ‘hold’ in a report on Friday, April 21. Morgan Stanley raised its price target on Simon Property Group shares from $131.00 to $132.00 in a research report on Wednesday, February 22, giving the stock an “overweight” rating. Goldman Sachs Group Inc. began covering Simon Property Group shares in a research report on Tuesday, March 21. They rated the stock as Buy and set a price target of $150.00. Finally, in a research report on Monday, March 13, Mizuho lowered its price target on Simon Property Group stock to $116.00 from $130.00. Six research analysts assigned the stock a hold rating and six assigned a buy rating. MarketBeat data shows the stock currently has a consensus rating of “moderate buy” with an average price target of $128.46.

Simon Property Group deals down 0.2%

NYSE:SPG shares fell $0.26 during Tuesday’s trading to $106.67. 34,500 shares were exchanged against an average turnover of 1,533,823 shares for the company. The company has a debt to equity ratio of 7.50, a current ratio of 1.43 and a quick ratio of 1.43. His 50-day simple moving average for this company is $109.53 and his 200-day simple moving average is $116.55. The company has a market cap of $34.88 billion, trades at 16.20 times earnings, 2.62 times earnings, and 1.51 times beta. Simon Property Group hit a 12-month low of $86.02 and a 12-month high of $133.08.

Simon Property Group increases dividend

The company also recently announced a quarterly dividend to be paid on Friday, June 30. Shareholders of record on Friday, June 9 will be rewarded with a dividend of $1.85 per share. This is up from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date for this dividend will be June 8 (Thursday). This equates to his $7.40 dividend and his 6.94% yield on an annualized basis. Simon Property Group’s Dividend Payout Ratio (DPR) is 112.12%.

About Simon Property Group

(get rating)

Simon Property Group, Inc is a self-managed and self-managed real estate investment trust engaged in the ownership, development and management of shopping, dining, entertainment and mixed-use properties, consisting primarily of malls and premium outlets. , and The Mills. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in his 1993 and is headquartered in Indianapolis, Indiana.

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